The Best Cryptocurrencies to Invest in May: Bitcoin, Ethereum, and BNB
The cryptocurrency sector is still searching for redemption in May, with many experts predicting encouraging pumps for certain cryptocurrencies. The second quarter of the year began well for several cryptocurrencies, and some of them have seen price improvements as their popularity battles with the recent attention given to Artificial Intelligence.
Over the past 30 days, some of the cryptocurrencies that experts predicted have experienced more than 40% gains, including Ethereum, which reached $2,000. However, Ripple did not fare as well as expected, dropping from $0.5343 to $0.4784 as of April 30.
With the market remaining unpredictable, careful analysis is necessary to break even. Trying to predict which cryptos are worth investing in has always been a challenge for traders. However, with the knowledge of the present happenings in the market, we have predicted the most promising crypto assets that could enjoy gains in May.
Bitcoin (BTC) is still one of the top cryptocurrencies to invest in this May. Despite starting the year with a market price of $16,547.91, the crypto’s market price reached $29,245.52 as of May 1, according to CoinMarketCap. Although it has been down by 2.10% in the last 24 hours, BTC reached $30,000 in April, a milestone that is regarded as optimistic for crypto traders heading further into the year.
BTC runs on a ledger that logs transactions distributed across thousands of computers. Last year, it lost 65% of its market value, but it has since rallied to almost $30,000, and crypto analysts predict that the digital asset could reach $40,000 in the coming months. The consistency in its price improvement makes it a crypto every crypto trader should watch out for and invest in.
Ethereum (ETH) is an open-source, decentralized blockchain technology with its coin, Ether. ETH serves as a framework for the execution of decentralized smart contracts, as well as a platform for various other cryptocurrencies. Ethereum is the second-largest blockchain in the world after Bitcoin.
ETH reached $2,000 in April, marking an upward trend since the beginning of the year when its market price was $1,196.71. After the tumultuous gale that made the market weary in 2022, it crossed $1,500 in February and March. It recorded its highest market price in April, reaching $2,103.95 on April 19 after the Shanghai upgrade. The market is still reacting to the benefits of the latest upgrade, and Ether may enjoy further gains in May, possibly as high as $2,500, as some experts had previously predicted. Ethereum’s price at press time is $1,846.70, with a 24-hour trading volume of $8,578,720,264, as reported by CoinMarketCap.
BNB makes the list of the top three cryptocurrencies to consider as we roll into May. Launched in July 2017, BNB seeks to project a paradigm shift in global finance as an offshoot of the popular cryptocurrency exchange, Binance.
BNB’s market price in March fluctuated between $200 and $300, but in April, the cryptocurrency crossed $300, an impressive feat. Considering this achievement, it is set to garner more interest from investors over the next few weeks and could be one of the top cryptos to invest in as May rolls in.
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